Completion is planned for the start of the academic year in September 2016.

Newry-based construction firm O'Hare and McGovern won the tender for the £16m redevelopment project.

Managing director of of O'Hare and McGovern, Eamon O'Hare, said: "This is a magnificent landmark building which is going to be completely revitalised to provide upmarket student accommodation. It's an exciting project which will be great for Belfast."

The accommodation will be made up of 292 bedrooms and 121 studios. The site will also house a reception suite as well as communal indoor and outdoor amenity areas.